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<p>[QUOTE="Just Carl, post: 841536, member: 4552"]Hate to drag out a post and beat it to death too. To start with, I never sell coins and never will, hopefully. I've been collecting for well over 60 years and have not the faintest idea of how much has been spent on coins over that period of time. And that would have to include folders, Albums, plastic rolls and on and on and on with STUFF. When and if I pass away, hate to say die at my age, I will NOT come back and tell the IRS or any government agency about my STUFF. So I owe nothing and if they want to dig me up and sue me, so be it. I'll rot all over the witness stand.</p><p>And as to incorporating yourself. WHY? This is supposed to be a hobby. FUN. </p><p>And as to this $10,000 to be given to a relative and they will not have to pay taxes on that. I've never met a relative I'd give a fraction of that to. My Son of course has already outdid that with all that college costs. And none of that is tax deductable either.[/QUOTE]</p><p><br /></p>
[QUOTE="Just Carl, post: 841536, member: 4552"]Hate to drag out a post and beat it to death too. To start with, I never sell coins and never will, hopefully. I've been collecting for well over 60 years and have not the faintest idea of how much has been spent on coins over that period of time. And that would have to include folders, Albums, plastic rolls and on and on and on with STUFF. When and if I pass away, hate to say die at my age, I will NOT come back and tell the IRS or any government agency about my STUFF. So I owe nothing and if they want to dig me up and sue me, so be it. I'll rot all over the witness stand. And as to incorporating yourself. WHY? This is supposed to be a hobby. FUN. And as to this $10,000 to be given to a relative and they will not have to pay taxes on that. I've never met a relative I'd give a fraction of that to. My Son of course has already outdid that with all that college costs. And none of that is tax deductable either.[/QUOTE]
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